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VIETNAM: Corporate Tax Incentives Introduced for Science/Technology Businesses

Science and technology-oriented businesses are to be exempt from corporate income tax (CIT) for four years and then offered a 50% CIT cut for a further nine years. In addition, they will be eligible to pay land and water surface lease fees at reduced rates, as well as to apply for low interest loans from state credit institutions.

In order to qualify, companies must produce or sell goods related to scientific/technological R&D or must constitute investment projects focussed on scientific developments/technological innovation.

Enacted as Decree No.13/2019/ND-CP, the incentives are available from 20 March onwards.

Content provided by Picture: HKTDC Research
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